Forex Day Trader's Thread

[Pippy5000]

eeeek... even on Sundays our wretched politicians do not rest.

 

[sherbertpips]

i was looking for breakout and it certainly took its time. i estimate the low at the end of the year of 1.4256 and high of 1.4483 within this pattern to be about 227 pips, so adding this onto the breakout point gives a long projection of 1.471, so i reckon i'll put a TP in at 1.47 as a long term objective. anybody got any thoughts on this?

 

[Pippy5000]

a breakout based on a politician's comments during a bank holiday on Sunday? Hmmmm...

 

[Masquerade]

Mask, how's the facebook date coming along?

Just got back on saturday, she was away too. So I haven't been in touch yet to arrange it, but i've been having second thoughts about it too.

I feel like such a sucker for not buying last night euro last night.

 

[Tuky]

Short eur 1.4545 stop -10. Well defended option barrier.
The main thing in trading gold is that the cartel doesn't allow more then 2% appreciation per day (1137.8 + 2%= 1160.5) so I'm short XAU 1159.5 stop 1162

 

[DAM]

So, 1.4557 the top?

 

[Masquerade]

The main thing in trading gold is that the cartel doesn't allow more then 2% appreciation per day (1137.8 + 2%= 1160.5) so I'm short XAU 1159.5 stop 1162

That's an interesting point. Is it something that has held over time and can be traded in a consistently profitable way. ie. shorting gold when it's +2%?

 

[Tarhini_Trade]

I went short USD/JPY earlier this morning for the break at 92.09 and got a quick 20 pips...it happened too fast for me to call it by the time I noticed. anyone looking/in a position?

 

[DAM]

This might be a good indicator of where EU is going

 

[Tarhini_Trade]

im looking at EUR/GBP to break .9028, ill t/p at .9050, let it pull back and wait for the next leg up..we'll see what happens

 

[Tuky]

That's an interesting point. Is it something that has held over time and can be traded in a consistently profitable way. ie. shorting gold when it's +2%?

Yes, but it doesn't happen so often that gold rises 2% per day. GATA tracks the interventions during a long period. Today I entered earlier, didn't count on one more leg up. I exited at 1158, entered again at 1161 and closed 1154.

 

[Tarhini_Trade]

short USD/JPY @ 92.18, tight stop, looking for a retest to t/p @ 91.8 area

 

[Tarhini_Trade]

got out for a tiny gain, since I closed half the position for a loss premature to my s/l, then t/p at 92.01...better than nothing, but dumb mistake not trusting my set up.

 

[Tarhini_Trade]

looking to short USD/JPY again if it breaks this next level around 91.75

 

[Masquerade]

I got a few yen trades on and I seem to have no idea what's going on. Just when I look like i'm about to be stopped it jumps.

 

[Tarhini_Trade]

that was a wild jump, glad i wasnt short...also a bit confused here haha

 

[Tarhini_Trade]

I expected a pop off 91.8, but nothing like that.

 

[Masquerade]

I'm still confused and i'm getting superstitious these days about calling trades. Definitely a bit better than 20 mins ago, but i've no idea what suddenly caused that, but i'm not complaining either. It's a silly business to be in.

 

[Tarhini_Trade]

there has been a lot of political talk going on recently, China's sovereign wealth fund came out with strong talk about the USD not too long ago

 

[Masquerade]

So I guess that was all china, but still a bigger move in yen relative to other pairs. That country is going to be so messed up soon.